Crude oil fell 4% and Oklahoma energy stocks joined the slide

 

Crude oil took a 4% hit in Wednesday’s trading and Oklahoma energy stocks felt it as well with some falling from 2% to 4%.

Crude inventories, including those at  the Cushing Hub in Oklahoma, fell more than expected, sending a surge in recession fears.

West Texas Intermediate crude dropped 3.6% on a $2.77 fall per barrel to close at $74.30 on the New York Mercantile Exchange.

Brent crude, the global benchmark, dropped 3.8% or $3.08 a barrel and finished at $77.69 a barrel on ICE Futures Europe.

Natural gas dropped 8.24% on a 19 cent fall to $2.12 per Mcf.

As OK Energy Today reported elsewhere in our newsletter, the Energy Information Administration revealed U.S. crude inventories dropped by 5.1 million barrels last week to 460.9 million. Analysts had predicted a drop of only 1.5 million barrels.

Oklahoma energy stocks took it on the chin again Wednesday with losses recorded across the board including a nearly 4% decline for ONE Gas and Ovintiv, while others including Devon Energy, Empire Petroleum, Mammoth Energy and SandRidge Energy dropped 2%.

Alliance Resource Partners, L.P.
20.60 USD−0.26 
Canoo Inc
0.74 USD−0.0050 
Chesapeake Energy Ord Shs
79.33 USD−0.49 
Coterra Energy Inc
24.69 USD−0.47 
Devon Energy Corp
52.20 USD−1.01 
Empire Petroleum Corp
10.83 USD−0.18 
Gulfport Energy Corp
82.63 USD−0.99 
Helmerich & Payne, Inc.
34.63 USD−0.11 
LSB Industries Inc
8.89 USD−0.15 
Magellan Midstream Partners LP
55.54 USD+0.19 
Mammoth Energy Services Inc
3.95 USD−0.080 
Matrix Service Co
4.75 USD−0.15 
NGL Energy Partners LP
2.76 USD−0.030 
 OGE Energy Corp.
37.09 USD−0.84 
ONE Gas Inc
77.10 USD−2.96 
ONEOK, Inc.
64.72 USD−0.83 
Ovintiv Inc
34.57 USD−1.26 
PHX Minerals Inc
2.65 USD+0.040 
SandRidge Energy Inc
13.69 USD−0.31 
Unit Corp
42.50 USD+0.31 
Vital Energy Inc
45.19 USD−0.81 
Williams Companies Inc
29.44 USD−0.49 
Other energy stocks also recorded losses for the day according to the Texas Energy Report.

APA Corp. (Apache) (APA) down 0.91 at 35.36 – change 2.51%

Cheniere (LNG) up 0.88 at 150.40 – change 0.58%

Chevron (CVX) down 3.01 at 165.98 – change 1.79%

ConocoPhillips (COP) down 1.62 at 100.47 – change 1.59%

Diamondback Energy (FANG) down 2.40 at 136.93 – change 1.73%

Energy Transfer LP (ET) down 0.05 at 12.48 – change 0.40%

Enterprise Products Partners (EPD) down 0.01 at 26.63 – change 0.04%

EOG Resources (EOG) down 1.01 at 115.66 – change 0.87%

ExxonMobil (XOM) down 1.07 at 115.45 – change 0.92%

Kinder Morgan (KMI) down 0.20 at 17.21 – change 1.15%

Marathon Oil Corp. (MRO) down 0.45 at 23.29 – change 1.90%

NOV Inc. (NOV) down 0.17 at 18.02 – change 0.94%

Occidental Petroleum (OXY) down 1.07 at 60.26 – change 1.75%

Phillips 66 (PSX) down 0.05 at 99.27 – change 0.06%

Pioneer Natural Resources (PXD) up 0.04 at 222.48 – change 0.01%

Tellurian Inc. (TELL) down 0.06 at 1.30 – change 4.42%

Valero (VLO) down 1.21 at 116.64 – change 1.03%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 2.13 at 92.25 – change 2.26%

CenterPoint (CNP) down 0.48 at 30.35 – change 1.56%

Entergy (ETR) down 3.72 at 105.05 – change 3.43%